Category: Cryptocurrency

A New Generation of Honest Money from my son Extra von NotHaus, LD2 is an asset-backed cryptocurrency that facilitates vaulted, physical ownership of redeemable precious metals and real-time trading of those assets.

LD2 embodies the spirit, methodology, principles and community of the Liberty Dollar currency.

Coin World posted a great article about my son’s new venture, a cryptocurrency called theLD2.

An excerpt from Coin World:

The Liberty Dollar is being resurrected as an asset-backed cryptocurrency that, according to its developers, “facilitates vaulted, physical ownership of precious metals and the real-time trading of physical precious metals.”

The cryptocurrency, identified as LD2, is the brainchild of Extra von NotHaus (son of Liberty Dollar creator Bernard von NotHaus) and Steven Brendtro.

According to the developers, the LD2 cryptocurrency is “a blockchain-based digital warehouse receipt, issued by [ISSUER], with the precious metals backing on deposit with the [DEPOSITORY], and the [AUDITOR] providing a monthly examination of all holdings. The [AUDITOR] works on behalf of the token holders to verify that all issued tokens are backed by the prescribed amount of precious metals. This third-party vaulting verification and independent auditing ensures that there is exactly one troy ounce of physical precious metal in the vault for each token issued, at all times —– independent of token ownership. As a digital warehouse receipt, every LD2 token is fully redeemable through the [DEPOSITORY] for its precious metals backing.”

According to Extra von NotHaus, “the first two issuances, LD2.zero and LD.silver, will be backed by silver before we issue a gold-backed version.”

LD2 digital tokens are a warehouse receipt that guarantees its owner/bearer the precious metal stored in the insured vault,” according to the LD2 founders.

First, the issuer purchases the silver that is delivered to the depository, where the depository and auditor verify the deposit. The issuer issues tokens, with the tokens sold or reserved. Tokens are transferred to the holder that purchases them, and then circulate.

LD2 is a silver-backed cryptocurrency that facilitates vaulted, physical ownership of silver, real-time trading and physical redemption in silver – just like the original Liberty Dollar!

LD2 embodies the spirit, methodology principles and community of the Liberty Dollar currency. This new LD2 cryptocurrency is very similar to the old digital eLibertyDollar (eLD), only a lot better because it’s based on blockchain technology. It is still 100% backed and 100% redeemable in one troy ounce .999 fine silver coins just like the original eLDs.

Please note LD2 is completely legal as it does not encourage usage of the physical silver in commerce, so it does not violate USC Section 486 of which I was convicted. As a cryptocurrency it also has stronger encryption, more privacy and far better functionality than the original Liberty Dollar.